GET YOUR FREE CREDIT REPORT
Reviewing your Credit Report has become easier, thanks to implementation of the Fair and Accurate Credit Transactions Act, or FACT Act. Federal law now entitles US citizens to receive a free credit report once every 12 months.

The three nationwide consumer reporting companies (Equifax, Experian, and TransUnion) have set up one central Web site, toll-free telephone number, and mailing address through which you can order your free report.  You can order one of three ways:

1. Click on www.annualcreditreport.com -or-
2. Call: 877.322.8228 -or-
3. Write: Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348

Do not contact the three reporting companies individually. They are providing the free Credit Reports only at the contacts shown above.

The law allows you to order one free copy from each of the companies every 12 months. You may order your reports from each of the three nationwide reporting companies at the same time, or you may order from one or two. The most effective way to keep your credit report error-free and up-to-date is to monitor the information they have. Now you can do it free, every year.

WHY IS THIS IMPORTANT TO USE?

• Because the information your credit report contains affects whether or not you can get a loan, and how much you will have to pay to borrow the money - you want your Credit Report to be as clean as possible.
• Because Credit Reports are pulled when you apply for a major purchase like a house or car, buy insurance, or apply for a job, you want to make sure the information is accurate, complete, and up-to-date.
• Because identity theft is a serious problem, and growing worse, monitoring the activity on your Credit Report will help keep the consequences of identity theft as low as possible.

CLOSE YOUR UNUSED CREDIT CARDS CORRECTLY!
The listing of unused credit cards can lower your credit score. Check for unused cards when you get your credit report, and close them properly:

1. Notify the issuer by phone. The phone number is printed on the back of the card or on a monthly statement. Call them and confirm that you have no outstanding balance, and notify them you are canceling the card.
2. Confirm with a letter. Confirm your decision with a letter to the credit card company. In a month, follow step three.
3. Check your credit report. Request a copy of your credit report and check to make sure that the card account(s) have been closed correctly. If not, contact the credit company right away.

If you have any questions regarding your credit report or the information on your report please call any one of our loan officers at 952.758.4491.